The study provides a detailed comparison between the pre-war banking landscape and the reorganized financial sector of the late 1920s. Whale examines the internal organization of these institutions, the impact of the First World War on their stability, and the subsequent recovery efforts following the 1924 currency stabilization. By focusing on the relationship between banks and the state, as well as the concentration of financial power, the book offers a critical perspective on the institutional mechanisms that drove the German economy. This work remains a significant resource for those interested in economic history, the history of finance, and the specific institutional foundations of European joint stock banking.
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